Barclays Trims APA (NASDAQ:APA) Target Price to $38.00

APA (NASDAQ:APA) had its price objective decreased by Barclays from $40.00 to $38.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 29.87% from the stock’s previous close.

A number of other research firms have also recently issued reports on APA. The Goldman Sachs Group cut their target price on APA from $35.00 to $31.00 and set a “sell” rating on the stock in a research note on Tuesday, March 26th. Morgan Stanley reiterated an “underweight” rating and set a $28.00 price objective on shares of APA in a research report on Monday, April 15th. Mizuho cut their target price on APA from $34.00 to $32.00 and set an “underperform” rating on the stock in a research note on Thursday. Wells Fargo & Company started coverage on shares of APA in a report on Wednesday, April 24th. They issued an “overweight” rating and a $55.00 price objective for the company. Finally, Susquehanna boosted their target price on APA from $50.00 to $54.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.05.

APA Trading Up 0.3 %

NASDAQ APA opened at $29.26 on Thursday. The company’s fifty day moving average price is $32.54 and its two-hundred day moving average price is $34.22. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 3.26 and a beta of 3.29. APA has a 12 month low of $28.90 and a 12 month high of $46.15. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02.

APA (NASDAQ:APA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 50.56%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. As a group, research analysts predict that APA will post 5.03 earnings per share for the current fiscal year.

Institutional Trading of APA

Hedge funds and other institutional investors have recently modified their holdings of the company. Harris Associates L P lifted its stake in APA by 17.8% in the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock valued at $563,520,000 after acquiring an additional 2,367,570 shares during the last quarter. Vanguard Group Inc. boosted its holdings in APA by 5.0% in the third quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company’s stock worth $1,714,656,000 after purchasing an additional 2,003,862 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after buying an additional 1,938,335 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in APA by 130.0% during the third quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company’s stock valued at $63,037,000 after buying an additional 867,257 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of APA by 1,527.3% in the third quarter. Los Angeles Capital Management LLC now owns 921,662 shares of the company’s stock worth $37,880,000 after buying an additional 865,026 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.